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Investors & landlords
I have a related, follow-up question. I exercised and held ISOs in 2021. I entered the details in the Wages & Income section and it calculated an AMT adjustment of $60K. Then when I go through the Other Tax Situations it asks 'Do I have any of these uncommon situations?' and 'I exercised ISOs in 2021, but didn't sell the stock in 2021. Or I sold ISOs in 2021 that I purchased in a previous year' is the first checkbox. If check this box and enter the $60K in the ISO adjustment box, it appears to double my AMT adjustment to $120K. It seems like this is duplicating the amount and significantly increasing my tax due. Can you please advise?
March 4, 2022
7:48 AM